KfW Divests 110 Million Deutsche Telekom Shares
By Helena Smolak
German state-owned KfW sold 110 million of its shares in Deutsche Telekom for 2.49 billion euros ($2.72 billion) to free up funds for investment in state-owned railway operator Deutsche Bahn.
The investment and development bank said late Monday that the stake it holds together with the German government stood at 27.8% following the divestment, and they remain the largest shareholders of the telecommunications company.
KfW had already sold 22.4 million shares so far in the second quarter, before this latest divestment, the lender said.
Deutsche Telekom shares traded at EUR22.64 after market close.
Write to Helena Smolak at helena.smolak@wsj.com
(END) Dow Jones Newswires
June 04, 2024 01:54 ET (05:54 GMT)
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